Proposed Federal Tax Conformity Excludes Loans Forgiven Under CARES Act From Gross Income

February 18, 2021 6:40 amFebruary 18, 2021 7:11 am

Assemblyman Phil Chen(R-Yorba Linda) introduced Assembly Bill 936 February 17. The bill would amend Sections 17131.8 and 24308.6 of the Revenue and Taxation Code. As an urgency measure, the bill would require a 2/3 vote in both houses of the...

New Bill Aims for Federal Tax Conformity

February 17, 2021 2:15 pmFebruary 17, 2021 2:24 pm

On February 16, Assemblyman Eduardo Garcia (D-Coachella) introduced Assembly Bill 708 related to federal tax conformity. The bill would amend Sections 17131.8 and 24308.6 of the Revenue and Taxation Code. As an urgency measure, it would take effect immediately once...